Business Insurance

Failing Economy Increases Need for Quality Business Insurance

Business Insurance Now — Mon, 03 Nov 2008 20:18:18 GMT

With all of the problems in the economy right now, major financial institutions are in the news on a daily basis. Insurance companies are facing difficulties as well, and are being pressured to overextend themselves in an unstable market. In an economy such as this one, you want to be confident that you and your money are safe. It is important to select your banks, lenders and insurers with care so that you don't end up in trouble later.

Safeguard Your Company and Your Employees

This is especially true for independent contractors or small businesses that don't necessarily have the reserves that a large corporation would. You depend on these institutions for your business and livelihood and should look for a bank or insurance company's ratings to guarantee that they are a safe, stable and secure place to take your business. If a time came when you needed your employer's liability insurance or workman's comp insurance to pay for a claim, and your lenders and insurance companies were going out of business, you would be stuck paying out of pocket.

Dont Compromise on Quality

Companies like TechInsurance are great because they do the digging for you, and only do business with A+ rated insurance companies. That way you can rest assured you won't be out of luck should something happen and you need to collect on your policy, such as if you have a small business insurance plan and there’s a problem on a consulting contract.

Budget Cuts in Today’s Economy

Business Insurance Now — Mon, 13 Oct 2008 16:29:18 GMT

Everywhere you turn, it seems like the stock market is dropping another 100 points, or another big company is shutting down. The signs are everywhere and as a business owner, you know one thing for sure…money is tight. When you look at places where you can cut the budget a smidge here, or a tad there, one area that you should NEVER consider cutting back is your small business insurance.

One of the biggest expenses for businesses, annually, isn’t paying for business insurance, but expenses that come as a result of NOT having business insurance. Most of the reasons that small businesses fall behind on things like rent payments, or wages to the employees, is because they have outstanding liabilities that they are forced to pay for, all because they did not have their company insured.

When you or your small business is insured, it is actually easier to budget your finances out for the month and even for the year. Instead of having to worry about any extra expenses that will arise, how much they will cost, or whether you can afford them or not, having your business insured makes it so that you pay the same amount every month, for the same coverage. There is no extra planning necessary!

No matter how tight things are with the economy right now, the one thing you cannot afford to start cutting back on is insurance for your small business. Times are tough for everybody, and now is not the time to let down your guard by letting the insuring of your business slip through the cracks. Make sure that above all else, that you can budget insurance for your small business into your monthly bills.

Business Inventory & Preparing for a Natural Disaster Prove Important in Many Aspects

Business Insurance Now — Mon, 06 Oct 2008 18:07:36 GMT

The effects of a natural disaster are never predictable, especially when business owners or homeowners are unprepared for the devastation caused by a fire, hurricane, or other natural disaster. Many efforts can be put in place to either prepare for a natural disaster or ease the recovery process once devastation has occurred. Many non-profit organizations and associations have gathered to help victims of natural disasters recover from severe losses. One network in particular, the Insurance Information Network of California (IINC), is taking great measures to aid those deeply affected by or at risk for loss from a natural disaster.

Educating Consumers and Business Owners

Members of the IINC are comprised of both commercial and personal lines insurers who conduct business in California. IINC provides objective information about the insurance industry to consumers in California on a daily basis. Their goal includes educating consumers on safety and enhancing consumers’ understanding of insurance.

As part of their ongoing efforts to inform consumers of important insurance issues and concerns, the IINC developed a free electronic toolkit to help victims of the Angora wildfire – which burned more than 3000 acres and destroyed or damaged more than 200 structures in June 2007 – better understand insurance, organize a home or business inventory, prepare an evacuation plan and create defensible space around their homes or businesses.

The Business Insurance Toolkit

The toolkit includes a disc titled Prepare, Survive, Recover in which articles, videos and website links are provided for consumers to access important information on preparing for devastating natural disasters as well as advice for recovering from disasters like the Angora wildfire.

Along with the Prepare, Survive, Recover disc, the toolkit also includes free home inventory software. Homeowners and business owners alike can utilize the software to conduct an inventory analysis of their home or business. The major benefit that this software provides is the ability for homeowners and businesses to use their inventory to gauge the appropriate amount of insurance needed. Plus, the inventory will serve as an important recovery tool in the event of a loss.

To obtain a free toolkit or to find more information on this subject or related topics, visit www.iinc.org. Consumer tips and advice are also available on the IINC podcast, “IINC Spots” at www.iincspots.com.

Announcing the BIN Digest

Business Insurance Now — Wed, 16 Jan 2008 04:35:18 GMT

Wanting to provide small business owners and young entrepreneurs with more than just quality business insurance products, Business Insurance Now is proud to announce the opening of the "BIN Digest".

The Digest is our official blog and will feature great information that you can use to improve your business. We'll bring you the latest news about our services, but also feature helpful articles on financing your small business, finding software & tools to help you work more efficiently, providing general business tips and helping you start your own business.

We welcome all comments, suggestions and feedback that you might have.

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